What to offer?

Ftb17

Me and my partner are both first time buyers and have just found a house we like.

It is on the market for 150000-160000 but others houses in the area on for that price seem to offer more (garage/conservatory/bigger gardens) so we think it's over priced!

We want it for 1400000, is that unrealistic if it is advertised so much higher? What you recommend going in it?

phatbear

for starters you say the house is £150000-£160000 but want to offer £1.4million, you may have put one to many 0's in that last amount.

a house it worth whatever someone is willing to pay so just beacuse you think its only worth a certain amount it doesnt mean the seller will see it the same way.

The only way to deal with this is go in with your offer of £140k, or £135k then you can appear to be coming up a bit when you get to £140k and then have an maximum you are willing to pay and stick to it.

At the mo down south, where i am, it appears there are 10 buyers for everyhouse and often houses are selling for above the advertised price, which is a tad frustrating

Hoploz

You need to work out the seller's position. Have they found something to move to and need to get the chain moving? Have they put it on at a high price because they are testing the market and aren't bothered whether they sell or not? Have they put it on at an optimistic price because that's what they 'need' for financial reasons, eg to pay off debts or to finance a house they want to buy (realistic or not)

If you really think it is worth less than the other properties then offer low. But they are only likely to accept if they have had little interest and really want to sell, and if you are good proceedable buyers with no chain and finances in place.

Does your budget stretch to the full price? If so I wonder why the other houses which offer more are not of interest and you prefer this one which you say is not as good?!